Naming Your Beneficiaries

Mark Sunderland is a CPA and Accountant focusing on individuals small businesses based on the Front Range.
We share some key points from an article he wrote on naming IRA Beneficiaries as it is very much in the scope of what KilterHowling does for clients.

  • Thoughts on naming a Trust as a beneficiary: to control a young persons’ access to funds
  • Spousal and Inherited IRAs
  • Effects on RMDs

Here’s a link to his website and the article he wrote to get more detail:

The easiest first step in estate planning is to properly name your beneficiaries.
We can do this for you at Schwab very easily for both taxable and non-taxable accounts.

IRA Beneficiaries are on most people’s radar because it usually is included in the account opening paperwork.
But the same exercise can be done for Taxable accounts too – with the same result of avoiding probate and expediting your assets to heirs as you so desire.

For both IRAs and Taxable accounts, there is flexibility enough to name Primary and Contingent Beneficiaries.
Each also has the option of Per Stirpes which ensures children receive any inheritance intended for a deceased parent.

We at KilterHowling can recommend several good options for CPA’s and Estate Planning Attorneys.
Please give us a call if you would like some direction.